Why Reata Pharmaceuticals Nose-Dived on Monday
Monday was one of the worst days in the history of Reata Pharmaceuticals' (NASDAQ: RETA) stock. After trading in the shares was halted in the morning due to volatility, they closed the session down by nearly 38%. There was good reason for the volatility, and for that monster price slide.
This was all triggered by a briefing document the Food and Drug Administration (FDA) released concerning bardoxolone methyl, Reata's chronic kidney disease drug candidate. On Wednesday, there's a meeting scheduled during which an FDA Advisory Committee is to discuss the company's New Drug Application for the treatment.
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Source Fool.com
